Quantitative Systematic Strategies LLC Invests $432,000 in Marvell Technology Group Ltd. (NASDAQ:MRVL) Stock

Quantitative Systematic Strategies LLC acquired a new position in Marvell Technology Group Ltd. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,120 shares of the semiconductor company’s stock, valued at approximately $432,000.

Several other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. grew its position in shares of Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 600 shares during the period. Meeder Asset Management Inc. bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $124,000. Boothbay Fund Management LLC bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $203,000. Finally, First Quadrant L P CA bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $211,000. Institutional investors own 77.72% of the company’s stock.

MRVL has been the topic of several research reports. Jefferies Group set a $19.00 target price on Marvell Technology Group and gave the company a “hold” rating in a research note on Wednesday, October 18th. Oppenheimer reiterated a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a research note on Monday, November 6th. Citigroup upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research note on Tuesday, November 7th. Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, November 20th. Finally, Benchmark raised Marvell Technology Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $30.00 in a report on Monday, November 20th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.92.

Marvell Technology Group Ltd. (NASDAQ:MRVL) traded up $0.40 during midday trading on Wednesday, reaching $22.32. The company had a trading volume of 10,983,200 shares, compared to its average volume of 8,590,428. Marvell Technology Group Ltd. has a fifty-two week low of $14.58 and a fifty-two week high of $24.22. The firm has a market capitalization of $10,960.00, a PE ratio of 39.08, a P/E/G ratio of 1.15 and a beta of 0.95.

Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The firm had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. equities analysts expect that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th were issued a $0.06 dividend. The ex-dividend date was Tuesday, December 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.08%. Marvell Technology Group’s dividend payout ratio is presently 42.11%.

In related news, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now directly owns 19,702 shares in the company, valued at $465,952.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. Insiders sold 31,324 shares of company stock worth $717,091 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

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Marvell Technology Group Profile

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Institutional Ownership by Quarter for Marvell Technology Group (NASDAQ:MRVL)

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